European Commission

Euro, dollar steady as bank fears subside, investors focus on inflation

The dollar had been under pressure from the possibility that the Federal Reserve may have to relent in its fight against inflation and pause rate hikes

European Commission proposes rules to protect consumers from greenwashing

The European Union's executive arm proposed rules on Wednesday to protect consumers from businesses selling goods labelled as green which actually aren't. The European Commission said greenwashing was a notable problem, with 53 per cent of green claims on products or services making vague, misleading or unfounded information. About 230 sustainability labels are in use across the 27-nation EU, with vastly different levels of transparency, according to the commission. With its green claims directive, the commission wants to set common criteria that would bring more clarity. The European Parliament and EU member countries need to approve the initiative for it to take effect. Under the proposal, companies that claim the packaging for their products is made of 30 per cent recycled plastic would have to prove it with scientific evidence. EU countries would be in charge of setting up verification processes overseen by independent bodies. Businesses based outside the EU making environmen

Apple breached antitrust law in Spotify case, says European Commission

The European Commission updated its anti-trust case against Apple, sending a fresh statement of objections to the tech giant clarifying its concerns over App Store rules for music streaming providers

British PM Rishi Sunak, EU strike deal over trade in Northern Ireland

A government source said Sunak had agreed the terms with European Commission President Ursula von der Leyen as they met in London

$61-billion VMware deal: Broadcom to get warning from regulators

The EU competition enforcer, which will decide on the deal by June 7

Zelenskyy expresses gratitude to Ursula von der Leyen for EU support

Ukrainian President Volodymyr Zelenskyy on Monday held talks with European Commission President Ursula von der Leyen. Taking to his official Twitter handle, Zelenskyy expressed gratitude to Leyen for European Union's support.Zelenskyy stated that Ukraine is waiting for the first tranche of macro-finance aid in January. He tweeted, "Glad to start the year talking to @vonderleyen. Thanked for the EU support. Waiting for the 1st tranche of macro-fin aid in Jan, the 1st batch of LED-lamps, school buses, generators & modular houses. Coordinated steps on Ukraine European Union Summit. We feel support & will win together. Ursula von der Leyen assured Volodymyr Zelenskyy that European Union continues to stand with Ukraine. She stated that European Union will support Ukraine's "heroic struggle" and fight for freedom against the offensive. In a tweet, Leyen said that the EU is supporting Ukraine with generators, light bulbs, shelters and school buses. Ursula von der Leyen tweeted, ..

Big duty cuts in India on parts and cars key demand of European players

Continent's manufacturers say they can't compete with manufacturers from FTA countries; also seek elimination of non-tariff barriers, long-term EV policy

EU probing $61 billion acquisition of software firm VMware by Broadcom

The European Commission has opened an in-depth investigation to assess the proposed acquisition of enterprise Cloud software company VMware by Broadcom

European Commission proposes additional sanctions on Russia, 9th since war

European Commission has proposed to impose sanctions against 200 additional individuals and entities, including the Russian armed forces

European investment tool worth $27 billion adopted in Greece this week

The program aims to unlock investments of over 372 billion euros across Europe, to support the EU's strategic priorities, these include the European Green Deal and the digital transition

Twitter loses entire Brussels office after Musk's hardcore working culture

The small office of six employees was cut to two in recent weeks following Elon Musk's dramatic culling of staff, according to people with knowledge of the exits

European Union dims hopes for a price cap to contain soaring gas costs

The European Commission presented its analysis of possible actions to contain gas prices at a meeting with representatives of national governments in Brussels on Monday

Europe approves world's first one-dose drug to protect babies against RSV

The European Commission has authorised the world's first one-dose drug against a respiratory virus that sickens millions of babies and children globally every year. In a statement on Friday, drugmakers Sanofi and AstraZeneca said the European Commission had given the green light to nirsevimab, a laboratory-developed antibody designed to protect infants during their first exposure to RSV, or respiratory syncytial virus, a highly contagious common infection that infects nearly all babies by age 2. At the moment, babies at high risk of the disease can be given monthly shots to protect them during RSV season. In September, the European Medicines Agency recommended that nirsevimab, sold as Beyfortus, be authorised based on advanced research that showed the drug reduced the chances that babies with RSV needed medical attention and appeared to be safe, compared to infants who got a dummy treatment. The drug is given in a single injection. We are excited about the opportunity to expand ...

Higher gas prices raise difficult questions for Reliance, Adani Group

The 153% jump in prices of natural gas this year has raised the stakes for the government of India to get its policy right in the sector

European Commissioner for Energy to visit India from September 7-8

In her first visit to India, European Commissioner for Energy Kadri Simson will be in the country from September 7-8 to explore means to boost two-way energy cooperation. The European Union said Simson's visit to Delhi signals the grouping's strong engagement with India in the area of energy. The 27-nation EU and India have robust cooperation in the fight against climate change and biodiversity loss. Simson said as the world faces an energy crisis and climate change challenge, India, with its vast renewable resources, has a strategic role to play in the clean energy transition. The EU and India established a 'Clean Energy and Climate Partnership' in 2016 and have been working closely together on clean energy transition, speeding up the deployment of renewable energy, promoting energy efficiency, collaborating on smart grid and storage technology and modernising the electricity market. Commissioner Simson will hold bilateral meetings with relevant Indian ministers, officials of the

Keeping Europe warm this winter will come down to Asia's weather amid war

The Asian countries, among the world's biggest importers of liquefied natural gas and seaborne coal, all share a peak heating demand season during the winter with Europe

Ukraine set to be approved as EU candidate after Commission's nod

During a summit in Brussels on Thursday, Ukraine is set to be approved as an European Union (EU) candidate after the European Commission gave the go-ahead

Amazon offers to share data, boost rivals to dodge EU fines: Report

The world's largest online retailer is hoping its concessions will stave off a potential European Union fine that could be as much as 10% of its global turnover

EU antitrust probe: Google offers to let ad rivals place YouTube ads

The EU competition watchdog singled out Google's requirement that advertisers use its Ad Manager to display ads on YouTube and potential restrictions on the way in which rivals serve ads on YouTube

EU announces additional $220 mn aid for Ukraine amid humanitarian crisis

Amid the Russian invasion of Ukraine, the European Commission has announced another 205 million euros ($220 million) in aid for the war-ravaged country to abate the soaring humanitarian crisis